'King Kong' goes £18m over budget

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The New York Times has reported that King Kong, the new Peter Jackson film, has gone £18m over budget. The film will apparently be more than three hours long, costing a cool £116m.

The paper says, however, that the studio are happy with the film, although it is not clear who will foot the extra costs. Vice chairman of Universal Pictures Marc Shmuger called the film a "three-hour feast"

It is unclear who will foot the extra costs, with Universal and Jackson both reportedly happy to cover the bigger budget for the re-make.